Author: nripn

By Anna Tong and Krystal Hu Mira Murati, former chief technology officer at OpenAI, is raising money from venture capital firms for her new AI startup, according to people familiar with the matter. The new company aims to create AI products based on proprietary models, said one of the sources who requested anonymity to discuss private matters. It is unclear whether Murati will take on the role of CEO of the new company. A representative for Murati declined to comment. Although negotiations are in their early stages, Murati’s new venture could raise more than $100 million given its reputation and…

These pillars represent correlations and not causes. Past performance does not necessarily predict future success. Of course, if there was an exact formula, Keith Rabois exclaims“An investor’s job would probably be easy.” However, there is no harm in studying the actions, products and execution of founders who have navigated the intellectual labyrinth to unicorn status, generational enterprise and beyond. What are the pillars of a Fintech unicorn? Founders who build transparent, long-term relationships with each other and with their investors. Startups that have a robust technology stack. Fintech developers who take inspiration and build on other products. Learn more about…

Just months after closing one of the biggest deals of her career, Stephanie Ferris, CEO of Fidelity National Information Serviceshas a message for everyone: FIS is not over. Ferris and the company she runs are looking to get back into buying. In February, the FIS closed the sale from a majority stake in WorldPay to GTCR, a Chicago buyout firm. The transaction helped FIS reduce its total debt, which had reached approximately $19.1 billion at the end of 2023, to around $10 billion once the sale is finalized. As of March 31, FIS’s debt stood at $11.2 billion, while its…

Akuaa payment processing platform based in Latin America, managed to secure an initial investment of $4.3 million.Propel led the funding round, with additional contributions from Plug and Play, HTwenty, RallyCap, Flourish Ventures and ICventures. The investment round also included high-impact angel investors with previous roles at companies like Mastercard, dLocal, Jeeves and Nubank.Akua sets a new standard in the region by developing the first “as a service” acquisition processor platform. This platform is cloud-native, highly secure, operates in real-time and integrates AI to streamline operations for financial institutions and merchants in Latin America.The funding will be used to launch Akua’s…

(Bloomberg) — Artificial intelligence research company Perplexity AI has begun fundraising talks in which it aims to more than double its valuation to $8 billion or more, the Wall Street Journal reported Sunday. Most read on Bloomberg Perplexity has told investors it hopes to raise about $500 million in the new funding round, the Journal said, citing people familiar with the matter. Conditions could change and funding may not come together, the newspaper said. SoftBank Group Corp.’s Vision Fund 2 invested in Perplexity earlier this year at a valuation of $3 billion. The company has launched a series of revenue-sharing…

The fintech revolution is advancing at an unprecedented pace, reshaping the global financial landscape. Innovations such as digital payments, blockchain, AI, machine learning and decentralized finance (DeFi) are transforming financial services, making them more efficient, accessible and user-friendly. However, this progress presents significant regulatory challenges that must be addressed to ensure a stable and secure financial ecosystem. The rise of Fintech Fintech has grown from a niche sector to a major player in global finance, disrupting traditional banking with digital payment platforms, mobile banking and peer-to-peer lending. However, regulatory issues related to fintech’s rapid growth could hamper its progress if…

Amnon Shashua, founder and CEO of Mobileye, is attentive to complex problems that he believes can be solved with AI, and that AI itself can be solved to become more reliable. Alongside the creation and management of his self-driving car technology company – which he took publicSO sold to Intel, then spun again, he developed a number of other ideas. Source link Disclaimer We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi We want to be transparent with our readers about any potential conflicts of interest that may arise in our work.…

We recently compiled a list of 20 Fintech Stocks Riding the Rising AI Wave. In this article, we’ll take a look at where Lemonade, Inc. (NYSE: LMND) stacks up to other fintech stocks. Artificial intelligence (AI) is redefining how financial services works, bringing new waves of innovation while improving efficiency and decision-making across the industry. From automating mundane processes to personalizing the customer experience, AI has firmly established itself as a revolutionary player, and nowhere is this more evident than in the fintech space. In recent years, the rise of generative AI (GenAI) models, such as OpenAI’s GPT, has accelerated…

(Reuters) – Stripe will buy stablecoin infrastructure provider startup Bridge, the fintech said in a tweet on Monday without disclosing the value of the deal. The deal is valued at $1.1 billion, Forbes reported last week, citing people familiar with the matter. Contacted by Reuters, Stripe declined to comment on the amount of the transaction. Stripe, founded by billionaires John Collison and Patrick Collison in 2010, was valued at $65 billion earlier this year and is among the most valuable private startups in the United States. Digital currencies are gaining traction after the U.S. Securities and Exchange Commission approved Bitcoin…

(Reuters) – Jeff Bezos-backed Perplexity AI has entered fundraising talks in which it plans to more than double its valuation to $8 billion or more, the Wall Street Journal reported on Sunday.Perplexity told investors it plans to raise about $500 million in the new funding round, the Journal reported citing people familiar with the matter.The Nvidia-backed artificial intelligence (AI) company’s estimated annualized revenue, based on its recent sales, is currently around $50 million, the report added.Perplexity AI declined to comment.In October, the startup said it received a “cease and desist” notice from the New York Times asking it to stop…